HDFC Life Insurance Company Limited — Investor Meet, 22-01-2026: Analysts/Institutional Investor Meet/Con. Call Updates

HDFC Life reported individual WRP growth of 11% for the nine months, outpacing industry growth, expanding market share to 10.9%. Retail protection saw strong 70% Q3 growth, driven by GST exemption. Product mix shows ULIPs at 43% and non-par savings at 19%. Value of New Business (VNB) grew 7% for the nine months, with margins at 24.4% despite one-time 98 Cr Labor Code impact and GST adjustments. Profit after Tax (PAT) increased 7% to 1,414 Cr. Embedded Value was 61,565 Cr, with solvency at 180%. Management aims to neutralize GST impact by Q1 FY27 and retains its VNB doubling aspiration, confident in sustained growth from protection and savings.